NEW YORK | Tower Fifth | 1,556 FT | 96 FLOORS - Page 31

JMKeynes · #**601** Posted **Jul 30, 2020, 1:23 PM**

Quote:

Originally Posted by chris08876

Worst case they will just modify it to accommodate the parcel not being ascertained.

I'd much rather see another developer come in and build something like 220 CPS or 520 Park. I'd much rather have a gorgeous 950' tower than a bizarre tower that's 1,550' tall. Macklowe won't live forever.

NYguy · #**602** Posted **Jul 30, 2020, 5:52 PM**

Quote:

Originally Posted by JMKeynes

ACRIS is fully accurate. It’s critical to the functioning of New York’s property system. The race-notice system for deeds, mortgages, liens, etc. relies on filings with the City, which are reflected on ACRIS.

This property was last conveyed via deed in 1971 to Francis Rosenbaum.

https://a836-acris.nyc.gov/DS/Docume...lt?max_rows=50

What I’m telling you is that you can’t tely on that. Macklowe and other developers often work under the radar.

Quote:

Originally Posted by JMKeynes

I'd much rather see another developer come in and build something like 220 CPS or 520 Park. I'd much rather have a gorgeous 950' tower than a bizarre tower that's 1,550' tall. Macklowe won't live forever.

To use the midtown east rezoning, you aren’t going to get a residential tower. To build a decent office tower, you need to be able to expand that footprint. That’s why Macklowe’s plan cantilevers over neighboring landmarks.

gramsjdg · #**603** Posted **Jul 30, 2020, 6:23 PM**

Just finish Met Life North to 1550' as planned. Much better looking building and no demo necessary

Zapatan · #**604** Posted **Jul 30, 2020, 6:35 PM**

Quote:

Originally Posted by JMKeynes

I'd much rather have a gorgeous 950' tower than a bizarre tower that's 1,550' tall

Personally I'd rather have a gorgeous tower that's 1,550 feet tall, and don't see why that's not possible.

pianowizard · #**605** Posted **Jul 30, 2020, 7:03 PM**

^Completely agree. Even this "design" from the opening post would be a huge improvement IMO:

NYguy · #**606** Posted **Jul 30, 2020, 9:38 PM**

Quote:

Originally Posted by gramsjdg

Just finish Met Life North to 1550' as planned. Much better looking building and no demo necessary

That’s my dream. I feel like I was robbed by the fact that it was never completed. But on the other hand, it allowed the Empire State to reign for so many years.

chris08876 · #**607** Posted **Jul 31, 2020, 1:20 AM**

Quote:

Originally Posted by pianowizard

^Completely agree. Even this "design" from the opening post would be a huge improvement IMO:

IDK why this made me laugh but it did.

Hell, even a DOB drawing thats just a rectangle via MS Paint would be better. On a side note, some of those so called "renderings" are funny on the "whats going on here" DOB posters we see outside of construction fencing. I've seen one, somewhere in Lower Manhattan, that was just a rectangle that they colored grey. I think on Water Street if i recall.

NYguy · #**608** Posted **Jul 31, 2020, 12:40 PM**

Lois Weiss from the Post seems to think this site is in play for Blackstone's new 1 msf headquarters as well, but I would say unlikely. It's just an available option (and conveniently about 1 msf of office space), but I don't think this will be a tower for those types of leases.

https://twitter.com/BetweenBricks/st...37077849018368

Quote:

Surely @SLGreen will try to lure them to 1 Madison; and smaller footprints at Macklowe's midblock E 51st tower if he can close on Venezuela site; and Boston Properties' 327-47 Madison.

rgarri4 · #**609** Posted **Jul 31, 2020, 8:48 PM**

Quote:

Originally Posted by pianowizard

^Completely agree. Even this "design" from the opening post would be a huge improvement IMO:

Lol no joke, this is 100 percent an improvement over the current design.

Crawford · #**610** Posted **Jul 31, 2020, 9:02 PM**

Tower Fifth will have small floorplates for boutique financial firms, and a firm like Blackstone would need decent-sized floorplates, so probably not a fit.

JMKeynes · #**611** Posted **Jul 31, 2020, 9:03 PM**

I don't see this monstrosity ever rising. Macklowe is 83 years old. He doesn't even own most of the parcels that he needs.

Crawford · #**612** Posted **Jul 31, 2020, 9:06 PM**

Quote:

Originally Posted by JMKeynes

Macklowe is 83 years old. He doesn't even own most of the parcels that he needs.

I'm pretty sure Billy Macklowe, who's like 50, runs Macklowe Properties these days. And I don't believe he needs any additional parcels for this site.

JMKeynes · #**613** Posted **Jul 31, 2020, 9:23 PM**

Quote:

Originally Posted by Crawford

I'm pretty sure Billy Macklowe, who's like 50, runs Macklowe Properties these days. And I don't believe he needs any additional parcels for this site.

Didn't BM and HM have a huge falling out a few years ago, and, thereafter, kept their companies separate? There is a lot of speculative space coming onto the market. This might not get financing any time in the near future.

NYguy · #**614** Posted **Aug 1, 2020, 3:37 PM**

^ As for Macklowe, it's not as if the company dies when he dies. I'm not even sure how much of the day to day he is currently running. We'lve already seen Silverstein step back from the day to day, even thugh he's still the face of the company. At any rate, I wouldn't look forward to anyone's death, because any of us could go at any time. As for financing, in most cases that will depend on finding tenants. There's a lengthy approvals process to go through before we can even get to that stage.

Quote:

Originally Posted by Crawford

Tower Fifth will have small floorplates for boutique financial firms, and a firm like Blackstone would need decent-sized floorplates, so probably not a fit.

That's what I was thinking as well.

JMKeynes · #**615** Posted **Aug 1, 2020, 3:52 PM**

Quote:

Originally Posted by NYguy

^ As for Macklowe, it's not as if the company dies when he dies. I'm not even sure how much of the day to day he is currently running. We'lve already seen Silverstein step back from the day to day, even thugh he's still the face of the company. At any rate, I wouldn't look forward to anyone's death, because any of us could go at any time. As for financing, in most cases that will depend on finding tenants. There's a lengthy approvals process to go through before we can even get to that stage.

That's what I was thinking as well.

Macklowe Properties is a much smaller operation than Silverstein and not nearly as professional.

NYguy · #**616** Posted **Aug 2, 2020, 1:42 AM**

Quote:

Originally Posted by JMKeynes

Macklowe Properties is a much smaller operation than Silverstein and not nearly as professional.

The size of the operation hardly matters when you've been in the business for years, and have several successful properties already under your belt. Macklowe is no newbie, as I'm sure you are aware.